UPDATE: First Geithner's assistant, and then Geithner himself deny this story. (Sort of.) He stops short of endorsing Warren but says she's well-q
UPDATE: First Geithner's assistant, and then Geithner himself deny this story. (Sort of.) He stops short of endorsing Warren but says she's well-qualified.
I'm sure y'all are as shocked as I am that Tiny Tim doesn't want Elizabeth Warren actually in charge of protecting consumers - since she might, you know, actually do her job!
I actually think putting Warren in a more prominent role would be a very smart political move. You want someone this smart, this credible and this tenacious on behalf of consumers as a prominent face of the administration. You never know, some of her credibility might even rub off:
Treasury Secretary Timothy Geithner has expressed opposition to the possible nomination of Elizabeth Warren to head the Consumer Financial Protection Bureau, according to a source with knowledge of Geithner's views.
The financial reform bill passed by the Senate on Thursday mandates the creation of a new federal entity charged with protecting consumers from predatory lenders.
But if Geithner has his way, the most prominent advocate for creating the agency may not be picked to lead it.
Warren, a professor at Harvard Law School whose 2007 journal article advocating the creation of such an agency inspired policymakers to enact it into law, has rocketed to prominence since the onset of the financial crisis as one of the leading reform advocates fighting on behalf of American taxpayers.
The news from the world of finance has been incredibly depressing of late, as the big Wall Street banks keep winning round after round in their battles with regulators. The flurry of deals, which in part were closed pre-Jan 1st to allow the banks to Read more...